Secured Transactions: Enforcing a Security Interest After Default Under UCC Article 9

Navigating the Notice Requirements, Remedies and Enforcement Rules

Recording of a 90-minute CLE webinar with Q&A


Conducted on Thursday, May 24, 2012

Recorded event now available

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Program Materials

This CLE webinar will focus on actionable default in secured transactions and discuss the numerous enforcement options and remedies available to secured parties under Article 9 of the UCC, highlighting best practices for lenders to follow upon borrower's default.

Description

Defaults on personal property secured loans continue to rise. Counsel to lenders must advise on due diligence steps to perfect the lender's security interests and to make sure they have the requisite priority.

The first inquiry must be whether there is an actionable default. Upon default, lenders must abide by and follow the specific notice and other enforcement rules in exercising the remedies provided for in UCC Article 9.

While numerous enforcement options are available, lenders must be guided by commercial reasonableness and other Article 9 requirements.

Listen as our authoritative panel of commercial finance attorneys discusses the UCC Article 9 provisions pertaining to default and enforcement rights of the secured party and discusses best practices in exercising remedies.

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Outline

  1. What is a default?
  2. Consequences of a default
  3. Enforcement options
  4. Debtor’s remedies for secured party misbehavior
  5. Secured party's rights and obligations generally

Benefits

The panel will review these and other key questions:

  • What constitutes an actionable default?
  • Upon default, what enforcement options are available to a lender and what procedures should the lender follow?
  • How can secured parties most effectively obtain remedies in the event of default?
  • What remedies are available to the debtor in the event of a secured party's misbehavior?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Smith, Edwin
Edwin E. Smith

Partner
Morgan Lewis & Bockius LLP

Mr. Smith focuses his practice in general corporate and commercial law, debt financings, structured financings,...  |  Read More

Teresa Wilton Harmon
Teresa Wilton Harmon

Partner
Sidley Austin

She focuses on financial transactions and commercial law. Her transactional experience includes secured and...  |  Read More

Christopher J. Rockers
Christopher J. Rockers

Partner
Husch Blackwell

He is involved in all types of finance transactions, representing a diverse range of lenders. In commercial finance,...  |  Read More

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